Islamabad, Feb 8: The Saudi Riyal (SAR) experienced a minor depreciation against the Pakistani Rupee (PKR) in the open market on Saturday, February 8, 2025.
SAR to PKR Exchange Rate Update
The buying rate of the Saudi Riyal dropped slightly by two paisas, now standing at Rs74.40. Similarly, the selling rate also recorded a marginal decrease, settling at Rs74.63.
As the official currency of Saudi Arabia, the Saudi Riyal (SAR) is further divided into 100 halalas. It plays a crucial role in trade and remittances, especially for Pakistan, which receives a significant amount of foreign exchange from its expatriates working in Saudi Arabia.
Currently, the exchange rate implies that 1,000 Saudi Riyals can be exchanged for Rs74,400 in the Pakistani open market.
Read More:
Rupee Dips Below 279 Against Dollar for Second Straight Day
Economic Developments Strengthening Ties
Earlier this week, Pakistan and Saudi Arabia signed an important agreement enabling deferred payments for oil imports worth $1.2 billion over the next year. The agreement was formalized at a high-profile event attended by Prime Minister Shehbaz Sharif and Sultan Abdulrahman Al-Marshad, the CEO of the Saudi Fund for Development (SFD). This agreement is expected to ease Pakistan’s foreign exchange pressure and stabilize its economic outlook.
Stay updated with the latest exchange rates and economic developments to make informed financial decisions.
